J.W. Cole Advisors Inc. Acquires New Position in Sonoco Products (NYSE:SON)

J.W. Cole Advisors Inc. acquired a new stake in shares of Sonoco Products (NYSE:SON) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,209 shares of the industrial products company’s stock, valued at approximately $626,000.

Other hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new position in Sonoco Products in the 4th quarter worth approximately $28,000. Authentikos Wealth Advisory LLC bought a new position in Sonoco Products in the 3rd quarter worth approximately $34,000. M&R Capital Management Inc. boosted its stake in Sonoco Products by 298.3% in the 4th quarter. M&R Capital Management Inc. now owns 924 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 692 shares during the period. Highlander Capital Management LLC bought a new position in Sonoco Products in the 4th quarter worth approximately $56,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Sonoco Products by 40.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,119 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 324 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Stock Performance

NYSE:SON opened at $56.39 on Tuesday. The stock’s fifty day moving average is $56.92 and its 200 day moving average is $55.87. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74. The firm has a market capitalization of $5.53 billion, a PE ratio of 11.75, a PEG ratio of 2.19 and a beta of 0.68. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.76.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). Sonoco Products had a return on equity of 22.42% and a net margin of 7.00%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Sonoco Products will post 5.21 earnings per share for the current year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.69%. Sonoco Products’s dividend payout ratio is presently 42.50%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TheStreet cut Sonoco Products from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Citigroup decreased their price objective on Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, Wells Fargo & Company decreased their price target on Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Insider Transactions at Sonoco Products

In other news, VP Adam Wood sold 537 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total transaction of $30,630.48. Following the transaction, the vice president now owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Russell K. Grissett sold 2,039 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $56.06, for a total transaction of $114,306.34. Following the sale, the insider now owns 11,988 shares of the company’s stock, valued at $672,047.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Adam Wood sold 537 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total value of $30,630.48. Following the completion of the sale, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,076 shares of company stock valued at $749,002. 0.51% of the stock is currently owned by corporate insiders.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.